Indirect Tax Collection In April-december

Last November, Prime Minister Narendra Modi scrapped 500- and 1,000-rupee banknotes as part of a crackdown on tax dodgers and counterfeiters, leaving companies, farmers and households all in pain.

On the other hand, the service tax collections shrunk by 5.2 per cent to Rs 16,979 crore in December compared to similar month of the last fiscal. However, during April-December period, it increased 8.7 per cent on annual basis.

Total collection of indirect taxes - excise, customs and service tax - stood at about Rs 3,55,003 crore during the first nine months of 2013-14 as against Rs 3,34,309 crore in the year-ago period, sources in the Finance Ministry said.

Last November, Prime Minister Narendra Modi scrapped 500- and 1,000-rupee banknotes as part of a crackdown on tax dodgers and counterfeiters, leaving companies, farmers and households all in pain.

On the other hand, the service tax collections shrunk by 5.2 per cent to Rs 16,979 crore in December compared to similar month of the last fiscal. However, during April-December period, it increased 8.7 per cent on annual basis.

Total collection of indirect taxes - excise, customs and service tax - stood at about Rs 3,55,003 crore during the first nine months of 2013-14 as against Rs 3,34,309 crore in the year-ago period, sources in the Finance Ministry said.